Invest / Direct Property Funds

Omnia Woolworths investment sale

Invest / Direct Property Funds

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After selling to New Zealand investor Brian Cook on a cap rate of c. 5% in mid-2016, the newly completed Woolworths stratum investment under the Omnia building in Potts Point is available for sale. The 1,190sqm approx tenanted investment offers a fully leased income of c. $946,000 pa with Woolworths occupying c. 918sqm and c.315sqm of supporting specialties. CBRE is offering the property for sale via expressions of interest.

Savills have recently sold a smaller 460sqm stratum investment at 88 Milsons Point, on the lower North Shore. The property is occupied by QE, a food store with a fully leased net income at $218,500 sold reflecting a net capitalisation rate of 4.69% to an investor from Hong Kong. According to Savills, the property was on the market for 13 days and there were 230 inquiries, 15 inspections, 6 contract requests.

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